Restaurants and pubs will be the “future of the high street” in London December 16, 2018 Pubs and restaurants could be the “future of the high street” in London, according to industry experts, as new figures revealed a healthy growth in like-for-like sales throughout the sector last month. Sales grew by 2.3 per cent in London pubs and restaurants in November against the same month last year, statistics published by the [...]
PwC offers muted support for audit market caps and increased oversight November 15, 2018 Britain’s biggest auditor has offered equivocal backing to a range of sector reforms, including a cap on market share for firms and more independent oversight of audit appointments. PricewaterhouseCoopers (PwC), the largest of Britain’s Big Four auditors, told the Competition and Markets Authority (CMA) a limit on the number of top firms any single auditor [...]
Audit’s perfect storm: How bean counters found themselves at the centre of a public uproar October 21, 2018 On the the surface, there is little reason for audit to get the blood pumping. The reality, however, is quite different, and threatens to present the sector’s biggest players – sprawling multi-nationals used to finding that all news is good news when you count the beans – with the toughest challenge they have seen in [...]
Business leaders voice growing concern over government striking good Brexit deal October 1, 2018 Business leaders voiced growing concern in the government's ability to deliver a good Brexit deal today as a survey revealed confidence had dipped to its lowest level in over a year. Releasing its quarterly Brexit Monitor, consulting firm RSM said just 39 per cent of business leaders thought the government could strike a 'good deal' [...]
PwC UK chairman resists calls for Big Four breakup as firm posts record revenues September 17, 2018 The chairman of PricewaterhouseCoopers UK said the Big Four accountant has learnt from its mistakes and improved processes, after it raised revenues despite settling two regulatory investigations in the past year. Kevin Ellis, PwC’s UK chairman and senior partner, told City A.M. he stands by the company’s opposition to breaking up the Big Four accountancy firms, [...]
PwC UK chairman resists calls for Big Four breakup as firm posts record revenues September 17, 2018 The chairman of PricewaterhouseCoopers UK said the Big Four accountant has learnt from its mistakes and improved processes, after it raised revenues despite settling two regulatory investigations in the past year. Kevin Ellis, PwC’s UK chairman and senior partner, told City A.M. he stands by the company’s opposition to breaking up the Big Four accountancy firms, [...]
Businesses warned after mandate fraud losses more than double to £77m September 17, 2018 Businesses losses from mandate fraud have more than doubled to £77m in the past year as firms are urged to alert staff to the dangers. Figures from the police's Action Fraud unit, obtained by audit firm RSM, showed that businesses reported more than 3,451 incidents of mandate fraud in 2017-18 – up 123 per cent on the [...]
Businesses warned after mandate fraud losses more than double to £77m September 17, 2018 Businesses losses from mandate fraud have more than doubled to £77m in the past year as firms are urged to alert staff to the dangers. Figures from the police's Action Fraud unit, obtained by audit firm RSM, showed that businesses reported more than 3,451 incidents of mandate fraud in 2017-18 – up 123 per cent on the [...]
Value of inward UK M&A deals falls by £15.8bn September 4, 2018 The value of mergers and acquisitions (M&A) of UK companies by foreign businesses fell by £15.8bn between April and June this year. The drop, from £22.3bn to £6.5bn, reflected the absence of high-value transactions that were seen in previous periods, the Office for National Statistics (ONS) said. Read more: Petrol station merger could drive up fuel prices, [...]
Business losses from employee corporate fraud double on last year to nearly £90m August 28, 2018 Businesses lost nearly £90m from fraud carried out by their own employees this financial year, double the figure for the year before, new data reveals. The Home Office defines corporate employee fraud as when an employee is able to obtain property or greater remuneration through the act of fraud, as well as the misuse of corporate cards and expenses. [...]